Councillors told '˜sell and invest' plan is paying dividends

A programme of selling assets to fund new builds for business is paying dividends councillors have been told.

By The Newsroom
Monday, 7th November 2016, 7:00 am
Updated Wednesday, 16th November 2016, 3:52 pm

An update on the performance of the Portfolio Management Plan which disposes of land, shops and offices in town hall ownership and re-invests the cash developing new property opportunities across the district for business was noted when the executive met.

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The council’s commercial and industrial property holdings were worth nearly £5 million in income last year. At the moment 95 per cent are let and ‘home’ to around 500 businesses.

Rhona Geisler, director of development services, said: “The council’s PMP is proving successful in modernising its business properties. It enables investors to refurbish existing buildings to create modern fit-for-purpose space for small local businesses to locate, grow and create jobs and the council to re-invest in the construction and letting of new business space to assist business growth in the area.”